Finance Ministry on 23rd September put to rest speculations surrounding chief economic advisor Arvind Subramanian's stint as government's man Friday. His tenure has been extended by one year and he will continue to serve the government till October 2018. FInance Minister Arun Jaitley confirmed the development in a tweet: "CEA Dr Arvind Subramanian will continue for one more year after completion of his 3 year tenure on 16th October, 2017.

Subramanian had assumed the office of India's CEA in October 2014 after the Modi government picked him up out of many aspirants for the coveted job. He has been quite vocal in his stand on RBI's monetary policy and spoken openly about the need for a rate cut.